Thermoplastic Polyurethane (TPU) Films Market Estimated To Witness High Growth Owing To Increasing Adoption Of TPU Films In Various Applications
Thermoplastic Polyurethane (TPU) films are a special type of plastic films made using thermoplastic polyurethanes as raw materials. TPU films offer various advantages like elasticity, abrasion resistance, transparency and excellent adhesiveness. They are widely used in various applications like automotive, building & construction, wearable technology, healthcare and others. Growing automotive industry is one of the major drivers of TPU films market.
The Thermoplastic Polyurethane (TPU) Films Market is estimated to be valued at US$ 472.19 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights
Market Dynamics:
The key drivers propelling the growth of TPU films market include increasing adoption of TPU films in automotive industry and wearable technology. Around 80% of TPU films produced are used in automotive applications like seating, airbags, fascia, etc. due to their strength, durability and flexibility. The demand for TPU films is also increasing from wearable technology segment for applications like smart accessories, medical patches, sports & fitness wear etc. However, availability of substitutes like thermoplastic elastomers (TPE) films and volatility in raw material prices are some of the factors that may hamper the market growth. Major players are focusing on new product development and expansion strategies to strengthen their market position.
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